In the spirit of dispelling myths, we’d like to address some common misconceptions about selling real estate in Colorado Springs. We know the idea of selling can be overwhelming. Education empowers you to be confident in decision making. We hope busting these myths will be a great beginning to selling your home.
1 – Myth: You Should List Your Home for a Higher Price Than You Expect
Don’t list your home above market value because agents won’t look at overpriced homes. If your home sits on the market too long because it’s overpriced, people will begin to wonder what’s wrong with it.
2 – Myth: Renovate Before You Sell – You’ll Earn It All Back!
This is risky business. If your home has major problems (like a leaky roof) you’ll want to address that because it scares buyers away. If the bathroom and kitchen are a little outdated, a renovation may not be necessary to sell your home. You certainly aren’t guaranteed to earn that money back.
The key to renovations is fix what’s broken so a potential buyer isn’t overwhelmed. Don’t make stylistic renovations thinking you’ll earn it all back. There’s just no guarantee, so it’s not worth the hassle.
3 – Myth: Sell Your Home Yourself and Save Money
Every now and again you’ll hear about someone who had a great experience selling their home and made a lot of money. This is not the typical experience of ‘for sale by owner.’ To sell your home, you’ll need to know how to do marketing, negotiate a contract and deal with inspectors and loan applications. It’s a lot to juggle. If you have the time and energy to do all that, you might save a little money. If it goes wrong, you could spend a lot of time losing money.
4 – Myth: Energy Saving Features Mean Higher Price Point
It’s easy to think certain features will drive up your selling point. Vendors want to persuade you that adding a feature will drive up the value of your home. You have to look at your home as a whole.
Energy saving features save money and are important for the environment. Adding those features with the intention of selling higher may disappoint. Many home buyers don’t want to spend the money on a home with green features. They want the best deal. They might install green features later. When buying, they’re looking for affordable real estate in Colorado Springs.
Get in touch with us if you’d like to talk about real estate in Colorado Springs. We’re here to help when you decide to sell your home.